View the article online at http://citywire.co.uk/new-model-adviser/article/a715588
Aegon ups fund charges on platform
by Jun Merrett on Nov 08, 2013 at 12:04
Aegon has increased some fund charges on its Aegon Retirement Choices platform and within its personal pension offering One Retirement.
The charges are rising by 5 basis points (bps) to 15bps for 82 of the 302 insured funds on the platform to align the prices with the broader market following a review of its charges and costs. The changes will take place in mid-December.
Aegon said the changes would affect around 27% of the platform's £1 billion assets but would not affect Aegon's Heritage and Unisure products.
Nick Dixon (pictured), investment director at Aegon, said: 'After these changes, the funds and platform cost remains very competitive – in the most competitive quartile versus similar funds. Our award winning platform continues to offer leading value in the market.'
Aegon added it would not increase the price of its lifestyle funds that are the default option for its workplace pensions on the ARC platform.
The company said after the increases, the typical fund total expense ratio would be:
- Index Lifestyle 6bps
- Passive 10bps
- Passive Volatility targeted 20-25bps
- Active Volatility targeted 75-85bps
- Select Sector Portfolios 75-90bps
News sponsored by:
Today's top headlines
- Sunday Papers: BoE to launch inquiry over forex fixing claims
- Saturday Papers: Independent Scotland would lose UK's AAA rating, warns Citigroup
- FCA issues warning against US firm targeting UK investors
- Nest director John Taylor exits after 12 months
- FCA set to simplify adviser charging reporting rules
More about this article:
by Himanshu Singh on Mar 09, 2014 at 04:54